Insider Buying: Syntec Optics (NASDAQ:OPTX) Director Purchases $50,000.00 in Stock

Syntec Optics Holdings, Inc. (NASDAQ:OPTX) Director Albert Manzone bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average price of $10.00 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the director owned 30,000 shares in the company, valued at approximately $300,000. This trade represents a 20.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Albert Manzone also recently made the following trade(s):

• On Wednesday, August 19th, Albert Manzone purchased 3,681 shares of Syntec Optics stock. The shares were bought at an average cost of $8.12 per share, for a total transaction of $29,889.72.

Syntec Optics Stock Down 2.4%

NASDAQ OPTX opened at $8.52 on Friday. The company has a quick ratio of 4.45, a current ratio of 5.97 and a debt-to-equity ratio of 0.11. Syntec Optics Holdings, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $14.92. The business has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $8.70. The stock has a market cap of $343.19 million, a PE ratio of -142.00 and a beta of -0.80.

Syntec Optics (NASDAQ:OPTX) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.01 earnings per share (EPS) for the quarter. Syntec Optics had a negative net margin of 8.26% and a negative return on equity of 16.50%. The company had revenue of $8.27 million for the quarter.

Hedge Funds Weigh In On Syntec Optics

Institutional investors have recently made changes to their positions in the business. Tema ETFs LLC purchased a new position in shares of Syntec Optics during the 2nd quarter valued at approximately $7,662,000. Royal Bank of Canada bought a new stake in shares of Syntec Optics in the first quarter worth $516,000. ARS Investment Partners LLC bought a new stake in shares of Syntec Optics in the first quarter worth $396,000. Arosa Capital Management LP acquired a new stake in Syntec Optics in the fourth quarter valued at $715,000. Finally, State Street Corp raised its holdings in Syntec Optics by 20.6% in the fourth quarter. State Street Corp now owns 42,800 shares of the company’s stock valued at $122,000 after acquiring an additional 7,300 shares in the last quarter.

Wall Street Analyst Weigh In

OPTX has been the topic of several analyst reports. Wall Street Zen raised shares of Syntec Optics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Syntec Optics in a research report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Syntec Optics Company Profile

Syntec Optics, Inc operates as a photonics company specializing in the design, development and manufacturing of precision optical components and subsystems. Its core offerings include thin-film filters, dichroic beamsplitters, anti-reflection coated lenses and custom optical assemblies. The company leverages proprietary coating technologies to deliver high-performance imaging solutions and spectral filters for visible, infrared and multispectral applications.

In addition to standard catalog products, Syntec Optics provides custom engineering services tailored to meet the specifications of customers in aerospace and defense, industrial automation, environmental sensing and life-sciences markets.